Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.015%

Price spread now: gTrade (Gains Network) against BingX−0.005%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$278as in the Price arb table

costs, in and out, $10k−$2812.812% of the position

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.067%−$7 on $10k

Price spread, last 7 days−0.005%$0 · spread now −0.005%, 7d avg −0.037%

Together, before fees−0.071%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.033% dearer against BingX than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.037%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDT	788.65	0.0050	pay 0.0050% / 8h	4h 16m	—	$34.4M	—
Short	gTrade (Gains Network) BNB/USD	788.61	L +0.0007% / S −0.0007%	get 0.0001% / 1h	16m 01s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.005%Rate

Funding earned: −$8.99
Price spread: −0.005% → −0.037%: $3.26
Slippage, 4 orders: −$261.16
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$286.89
Costs to cover: 2.812%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 8 min ago	0.13 bp	6.0 bp −$6	6.3 bp −$63	8.8 bp −$880	17.3 bp −$8,639
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0188% / S +0.0352%	1h	788.63	−0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.26	+0.077%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.11	+0.058%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	788.61	−0.005%	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.085%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	789.11	+0.058%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDTlong	+0.0050%	8h	788.65	long leg	—	$34.4M	—
Phemex BNBUSDT	+0.0060%	8h	789.31	+0.084%	$69.0M	$50.0M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	789.30	+0.082%	$80.1M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	789.06	+0.052%	$492.4M	$789.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.101%	$582K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.85	+0.026%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.72	+0.009%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.90	+0.032%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.16	+0.065%	$51.8M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.12	+0.059%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.032%	$138.7M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.30	−0.044%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.10	+0.057%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.60	−0.006%	$35.5M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.45	−0.025%	$28.0M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.18	−0.060%	$76.2M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.27	+0.079%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.31	−0.043%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.65	+0.127%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.43	+0.099%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.72	+0.009%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.79	+0.018%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.19	+0.069%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.90	+0.032%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.94	+0.037%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.28	+0.080%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.14	−0.065%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.69	+0.005%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.49	+0.107%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0122%	1h	789.35	+0.089%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0150%	8h	790.01	+0.173%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	789.90	+0.158%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0181%	8h	789.84	+0.151%	$18.2M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	789.09	+0.055%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.187%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.37	+0.091%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.59	−0.008%	$2.5M	$1.2M	50x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.60	−0.006%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0392%	1h	789.26	+0.078%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.26	+0.077%	$1.1M	$967K	20x	as long as short